This partnership will enable KalPay, the nation’s leading Shariah Aligned B2C digital lender, to expand its offering of the most flexible and straightforward payment choice (Buy Now, Pay Later) for customers, while simultaneously leveraging the lending capabilities of Muawin, Pakistan’s renowned B2B BNPL financial lender, to empower merchants and businesses through working capital financing.
In the last few years, BNPL has become an incredibly popular option amongst consumers – enabling them to obtain goods through flexible and interest-free payments offered in the form of a secure and seamless payment experience provided by merchants utilising BNPL.
As KalPay ensures a drastic increase in the purchasing power of customers through its leading BNPL platform, merchants will experience a sharp rise in orders and will have to cater to this rising demand to ensure a steady supply of products and extract maximum benefit from BNPL as a service. This is where Muawin comes in.
As Pakistan’s premier B2B BNPL with a lending portfolio spanning across multiple sectors including ride-hailing, retail, logistics and agriculture, Muawin is playing a crucial role in helping MSMEs gain financial control of their enterprises. Through this partnership, KalPay will leverage Muawin’s in-house developed tech stack in order to provide end-to-end digital financing solutions to their network of online retailers, helping create a thriving ecosystem of financial inclusion together.
Speaking at the announcement ceremony, Waleed Amjad Islam, Co-founder and COO KalPay, remarked, “Our strategic alliance with Muawin is a leap forward in the digital lending landscape of Pakistan. Muawin, with their expertise in B2B lending, complements our B2C offering paving the way for a holistic credit scoring mechanism at the center of lending in Pakistan. Together we aim to revolutionize how the average Pakistani can get access to credit.”
Co-Founder and CSO Muawin, Hashim Ali, added, “This landmark partnership is a testament to our vision of collaboration for financial inclusion. As market leaders, we’re proud of leading the charge for democratizing finance – while building partnerships with institutions such as KalPay to establish a platform that can drive incremental digitization of credit for MSMEs.”
In the near future, Muawin and KalPay will continue working to broaden the scope of their collaboration while building a unique platform to accelerate the impact of BNPL solutions and ensure financial independence for the community at large.